The Canadian dollar is struggling against the US dollar in Forex trading today. Indeed, the loonie is one of several currencies dropping against the dollar as Forex traders look for safe haven in these difficult and disappointing times. With Chinese growth slowing, and the European sovereign debt crisis still in full effect, Forex traders are starting to get nervous about what’s next. This nervousness is leading to gains for the US dollar, … “Canadian Dollar Falters as Global Economic Concerns Grow”
Month: September 2011
New Zealand Dollar Falls on S&P and Fitch Downgrades
The New Zealand dollar fell today, reaching the lowest level vs. the US currency in almost 6 months, following the sovereign credit rating downgrades performed by Standard & Poor’s and Fitch Ratings agencies. The kiwi (as the currency is often nicknamed by the market participants) lost also to the euro, the Japanese yen and the Australian dollar, staying almost unchanged against the the Great Britain pound. Standard & Poor’s and Fitch Ratings both downgraded the country’s … “New Zealand Dollar Falls on S&P and Fitch Downgrades”
Surprising Jump in European Inflation Lowers Chances of 0.50%
According to the initial release of CPI in the euro-zone, prices rose at an annual pace of 3% in September, much higher than 2.5% that was expected and the highest level in many years. In his last rate decision, Jean-Claude Trichet will probably refrain from cutting the interest rate by 0.5% and perhaps he won’t … “Surprising Jump in European Inflation Lowers Chances of 0.50%”
Risk Appetite Appears, Helping Euro in Forex Trading
Risk appetite is making an appearance today, helping the euro in Forex trading as investors look for better yields. Unexpectedly good news has many Forex traders considering that things might start turning around — and this is helping the euro right now. One of the biggest supports for the euro is that German parliament voted to support the euro bailout fund. With a little more support for the EFSF, there is … “Risk Appetite Appears, Helping Euro in Forex Trading”
USD/CAD: Trading the Canadian GDP Sep 2011
The Gross Domestic Product (GDP) indicator measures the production and growth of the economy. Analysts consider GDP one of the most important economic indicators, thus the publication of the Canadian GDP can have an immediate effect on USD/CAD. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Friday at 15:30 GMT. … “USD/CAD: Trading the Canadian GDP Sep 2011”
Asian Stocks Push AUD, NZD Up
Both the Australian and the New Zealand dollars appear to be benefiting from the Asian stock market recovery, rising from the yesterday’s strong fall. Influenced by the daily growth in the Japanese and the Korean stock markets, the two currencies advanced from the lows of Wednesday today. They gained most notably against the US dollar and the Japanese yen, which are still perceived as the “safe heaven” currencies and remain unpopular during the times of the global financial optimism. … “Asian Stocks Push AUD, NZD Up”
5 Most Predictable Currency Pairs – Q4 2011
Some currency pairs will push through if they break a significant support or resistance. If not, they will bounce back or at least slow down before approaching these lines. Those well behaved pairs are more predictable. Even if you lean heavily on fundamentals, these lines will help. In some currencies. Some other ones are just … “5 Most Predictable Currency Pairs – Q4 2011”
USD/JPY Consolidates With Downside Bias, Oil Loses Momentum
USDJPY: Consolidates With Downside Bias, Set To Target The 75/92 level (Special Focus). USDJPY: The pair continues to consolidate but with downside bias. It looks to recapture the 75.92 level, its 2011 low and beyond. USDJPY has been under a strong bear pressure since topping out at the 124.13 level in Jun’2007 and with that … “USD/JPY Consolidates With Downside Bias, Oil Loses Momentum”
EUR/USD: Trading the US Pending Home Sales Release
The Pending Home Sales Index is a leading indicator of housing activity. The index is released in the first week of each month, and provides analysts with an early glimpse of consumer demand and confidence. A higher reading than that forecast is good for the dollar. Here are all the details, and 5 possible outcomes … “EUR/USD: Trading the US Pending Home Sales Release”
UK Pound Mixed in Forex Trading
Earlier today, the UK pound was falling in Forex trading. A drop by the FTSE 100, as well as concerns about bank capitalization, were among the factors causing losses for the sterling. Now, though, things have turned around a bit — at least against some currencies. Concerns about the eurozone had been weighing on the sterling against the US dollar, but new prospects for stability in the euro region are helping the situation. The Bank of England … “UK Pound Mixed in Forex Trading”